Search form

Search form

Caesars Entertainment could build a casino in New York after state voters on Tuesday approved a plan to expand gambling. Caesars recently dropped out of a bid to build a casino in East Boston. Republican state Sen. John Bonacic said Caesars is considering building at least a $600 million casino in Sullivan County, N.Y. Other companies have also expressed interest, including Foxwoods, MGM, Sands and Boyd Gaming, Bonacic said.

Related Summaries

New York state senators will discuss a bill Tuesday that would legalize online poker. State Sen. John Bonacic proposed the legislation, which includes a 15% tax on online poker operators. Meanwhile, a separate bill on online poker was also introduced in the state assembly.

Industry analysts and the American Gaming Association are applauding New York's move to expand gambling. The casino referendum approved by 57% of voters on Tuesday will allow for four commercial casinos in upstate New York, followed by three casinos elsewhere in the state. Analysts expect slot machine manufacturers to be the first major beneficiaries of the expansion. New York is the sixth state to support expanded gambling since 2010.

Shares of Empire Resorts soared 29% in Tuesday's trading as investors gambled that New York state voters will approve an upcoming casino referendum. Empire Resorts could build a casino in the Catskills in upstate New York if the referendum passes.

Empire Resorts, along with EPR Properties, amended a contract to build a casino resort in Sullivan County, N.Y. The amendment allows greater flexibility if voters in the state approve expanded gambling. Empire Resorts plans to build a casino resort on the site of the former Concord Hotel.

New York state Sen. John Bonacic laid out a plan for the state's casinos that specifies locations for seven casinos. Gov. Andrew Cuomo has said he wants to allow only three casinos in the state. "The governor drives the bus. The Legislature is on the bus. ... I am hoping the governor can use this proposal as he puts his own proposal into bill language," Bonacic said.